Wealth Formula by Buck Joffrey

508: The Road to 2030 – Are We Headed for Another Great Depression?

31 snips
May 25, 2025
Taylor St. Germain, a Senior Economist at ITR Economics, shares insights on the predicted economic downturn approaching by 2030. He discusses the alarming impacts of rising debt, a retiring Baby Boomer generation, and unsustainable entitlement spending. St. Germain also highlights how advancements in artificial intelligence could reshape economic dynamics, potentially challenging grim forecasts. The conversation reveals the intricate relationship between demographics, federal spending, and investment strategies, urging listeners to prepare for the impending changes.
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INSIGHT

Inevitable 2030 Economic Downturn

  • The U.S. typically experiences a recession every 10 years since WWII.
  • The key question is the severity of the recession near 2030, potentially a depression due to duration.
INSIGHT

Debt, Demographics, and AI Wildcard

  • Debt and demographics are major drivers of the forecasted 2030 depression.
  • Baby boomers retiring increases economic burden; AI could be a transformative unknown variable.
INSIGHT

Unprecedented Economic Uncertainty

  • Current economic uncertainty is unprecedented, three times greater than during the pandemic.
  • Business hesitation slows investment, impacting GDP growth and recession risk.
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